U.S. life carriers engaging in “asset intensive reinsurance transactions” should consider new requirements for reporting and actuarial testing of these arrangements being developed by the National Association of Insurance...more
Internationally active insurance groups (IAIGs) will want to consider the implications of recent guidance from international insurance regulators on capital standards. These standards mandate the relevant amounts of capital...more
Pharmacy benefit managers (PBMs) should consider the implications of a model law making its way through the National Association of Insurance Commissioners (NAIC) that would establish a licensure requirement and rules of...more
4/13/2021
/ Claim-Processing Rules ,
Health Insurance ,
NAIC ,
Patient Access ,
Pharmaceutical Industry ,
Pharmacy Benefit Manager (PBM) ,
Prescription Drugs ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Standards ,
The Model Law
On June 3, amendments to New York insurance regulations, available here, became effective that will permit the New York Superintendent of Financial Services to act as group-wide supervisor of internationally active insurance...more
On Dec. 18, 2018, the Trump Administration signed a bilateral agreement on prudential insurance matters between the United States and the United Kingdom (the U.S.-U.K. Covered Agreement)....more
1/3/2019
/ Consumer Insurance Products ,
Covered Agreement ,
Dodd-Frank ,
Insurance Claims ,
Insurance Regulations ,
Prompt Payment ,
Prudential Standards ,
Reciprocity Rules ,
Regulatory Oversight ,
Regulatory Requirements ,
Reinsurance ,
U.S. Treasury ,
UK ,
UK Brexit ,
US-EU Covered Agreement
On July 17, the five main federal financial regulatory bodies — the Board of Governors of the Federal Reserve System (the Fed), the Securities and Exchange Commission, the Federal Deposit Insurance Corp., the Commodities...more
8/2/2018
/ Comment Period ,
Covered Banking Entity ,
Covered Funds ,
Dodd-Frank ,
Proprietary Trading ,
Regulatory Agencies ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Requirements ,
Reporting Requirements ,
Volcker Rule
On March 7, 2018, the Housing and Insurance Subcommittee of the U.S. House of Representatives Committee on Financial Services heard testimony on the issue of duplicative regulation of insurers that are also savings and loan...more
OCIE Highlights Frequent Topics for Compliance Deficiencies for Investment Advisers -
On Feb. 7, 2017, the Securities and Exchange Commission’s (SEC’s) Office of Compliance Inspections and Examinations (“OCIE”) published...more
3/2/2017
/ Books & Records ,
Chief Compliance Officers ,
Covered Agreement ,
Custody Rule ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Enforcement Actions ,
Ethics ,
EU ,
Filing Requirements ,
Financial Institutions ,
Financial Services Industry ,
Form ADV ,
Insurance Industry ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
NYDFS ,
OCIE ,
Registered Investment Companies (RICs) ,
Regulatory Oversight ,
Reinsurance ,
Risk Alert ,
Rule 204-2 ,
Securities and Exchange Commission (SEC) ,
Strict Compliance
On Jan. 13, 2017, the U.S. Department of the Treasury and the Office of the U.S. Trade Representative ("USTR") released the terms of the long-awaited covered agreement between the United States and the European Union (the...more
1/28/2017
/ Covered Agreement ,
Dodd-Frank ,
EU ,
Exchange of Information ,
Financial Solvency ,
Insurance Industry ,
Memorandum of Understanding ,
ORSA ,
Preemption ,
Prudential Standards ,
Regulatory Oversight ,
Reinsurance ,
U.S. Treasury ,
USTR